Most people lose money because they don't follow these simple steps:
It's been 2 years since I've started trading I've learnt a lot sometimes through research and sometimes from the markets harsh teachings which costs your confidence, ego and some money.
Trading isn't a gold mine and neither a scam but it can be any one of those depending how you approach it. I'll write some tips below on what I've learnt in these 2 years.
You are probably thinking "why should I listen to a random post" well the answer to it is you shouldn't without knowing if the person is trustworthy. I won't say I'm the best trader or better than everyone because I'm not. My best trade ever has been a 400% profit which isn't that much but because I could consistently get profits of UpTo 100% could reach substantial amounts of profits.
I'd like to help all the new traders get high profits not by luck but rather skill. These are some important rules I use when I trade.
1, Analysis of the market trend and how the major coins are doing like $BTC $ETH $BNB
2, Homework, yes homework it may seem pointless but it's the most important key to success especially for a new trader like myself you can never be too prepared when doing something as risky as trading. Learn a set of patterns from YouTube for completely free without paying for any courses or check my account where I have a post with the patterns I use.
3,Finding a good trader who you can trust and learn from.
4,Following a set of rules you make for yourself
5,Not trading with emotions
I'll have a new post on my account explaining how to follow these rules and use them effectively so be sure to follow.